Vietnam’s Cashew Nut Imports Surge in First Half of 2025: Volume Hits 1.6 Million Tons, Value Exceeds $2.49 Billion
In the first six months of 2025, Vietnam imported approximately 1.6 million tons of raw cashew nuts, with the total import value surpassing USD 2.49 billion. This marks a significant increase compared to the same period in 2024, with import volume rising by 7.1% and import value jumping by 38.1%. Notably, the total import value in just the first five months of 2025 already exceeded the entire annual import value of 2024, which stood at USD 1.07 billion. This sharp growth underscores the booming demand for raw materials in Vietnam’s cashew processing industry.
Cambodia remained Vietnam’s leading supplier, accounting for 65.71% of total import volume and 60% of total import value during this period. Despite a 19% year-on-year increase in average price, cashew imports from Cambodia remained competitively priced, second only to Nigeria in affordability.
Tanzania emerged as the second-largest supplier, offering premium-quality cashews at the highest average prices among major exporters. This reflects the country’s structured auction system and consistently high-grade raw cashews.
Meanwhile, Nigeria maintained its position as a key low-cost supplier, delivering the most affordable raw cashew nuts to Vietnam. Its pricing strategy continues to support the growing demand for bulk, cost-efficient processing within the Vietnamese cashew industry.
Domestic Raw Cashew Price Trends in Vietnam – First Half of 2025
During the early harvest season (January–February 2025), domestic raw cashew nut prices in Vietnam remained high, averaging around VND 40,000 per kilogram, which is approximately VND 10,000/kg higher than the same period in 2024.
On January 10 and 17, raw cashew prices in major growing provinces were as follows:
- Binh Phuoc: VND 25,000 – 27,000/kg
- Dong Nai: VND 24,500 – 26,500/kg
- Dak Lak: VND 21,000 – 25,000/kg
- Gia Lai: VND 24,500 – 26,000/kg
- Dak Nong: VND 25,000 – 26,000/kg
In Binh Phuoc, the country’s leading cashew-growing province, average prices at the start of the season ranged between VND 40,000 – 45,000/kg.
As the harvest progressed into the mid-season (February–April 2025), increased supply from several provinces caused prices to ease slightly, stabilising around VND 33,000 – 35,000/kg.
On March 14 and 24, average prices were reported as:
- Dak Lak: VND 44,000/kg
- Dak Nong: VND 43,000/kg
- Gia Lai: VND 41,000/kg
- Kon Tum: VND 42,500/kg
- Lam Dong: VND 42,000/kg
By March 28, prices began to soften slightly:
- Dak Lak and Dak Nong: VND 42,000/kg
- Gia Lai: VND 39,000/kg
- Kon Tum: VND 40,500/kg
- Lam Dong: VND 40,000/kg
However, by April 2, prices had rebounded to mid-March levels.
In Binh Phuoc, the average mid-season price stood at VND 35,000 – 42,000/kg in February–March, gradually declining to VND 30,000 – 38,000/kg by March–April.
Prices further moderated by the end of the harvest season (April–May 2025). In early May, fresh cashew nuts in Binh Phuoc were trading between VND 29,000 and 30,000/kg, with the average end-of-season price ranging from VND 28,000 to 32,000/kg.
For a comprehensive analysis with full data tables and insights, refer to the full report: Vietnam Cashew Nuts Import–Export Market Report 2025
Vietnam’s Cashew Nut Export Performance in the First Half of 2025
In the first six months of 2025, Vietnam’s cashew industry achieved impressive results, with an estimated export value of USD 2.347 billion and a total export volume of 344,640 tons. Although the export volume declined slightly by 3.3% compared to the same period in 2024, the export value grew by 19.6%. This reflects a significant shift toward a value-driven growth model, largely supported by a sharp increase in average export prices. The average price for exported cashew nuts reached USD 6,805.4 per ton, representing a 23.8% year-on-year increase.
China emerged as Vietnam’s largest cashew export market in the first half of 2025. The country imported approximately 83,000 tons of cashew nuts from Vietnam, worth USD 525.56 million, accounting for 22% of Vietnam’s total cashew export value. This marked a 21.7% increase in volume and a 41.2% increase in value compared to the same period last year. Notably, May 2025 saw the highest volume of cashew exports to China in three years, with 24,620 tons exported at a value of USD 156.39 million, up 44.4% in volume and 67% in value compared to May 2024. In April 2025, China had already become Vietnam’s top cashew buyer, with 23,750 tons imported at USD 149.1 million—an increase of 126.7% in volume and 129.8% in value over the previous month. Compared to April 2024, these figures were up 74.4% in volume and 113% in value. The average export price to China in May was USD 6,350 per ton, with the six-month average reaching USD 6,323 per ton.
The United States, which was previously the largest importer of Vietnamese cashews, fell to second place. In the first half of 2025, the U.S. imported 70,000 tons of cashew nuts worth USD 457.5 million, accounting for a 20.25% market share. However, this represented a 24% decline in volume and a 6.39% decline in value year-on-year. During the same period, U.S. imports of cashew nuts from Ivory Coast increased by 27% in both volume and value. While Vietnam still supplies 98% of the U.S. cashew imports, rising tariffs and disruptions related to the Red Sea conflict have prompted American importers to diversify their sources. On Vietnam’s side, there is also a strategic intent to reduce dependence on the U.S. market.
Despite strong export growth, the industry recorded a rare trade deficit. In the first six months of 2025, Vietnam imported USD 2.49 billion worth of raw cashew nuts, surpassing the USD 2.347 billion in export earnings from processed cashews. This situation presents a profitability paradox for the industry. Although export prices have increased, they have not kept pace with the rising costs of raw material imports and domestic processing. As a result, the sector’s overall financial position is weakening.
This trade imbalance underscores the need for Vietnamese cashew processors to reassess their entire value chain. To improve profitability, companies must secure stable and cost-effective raw material sources, shift toward producing higher-margin value-added products such as roasted, flavored, or organic cashews, and enhance internal production efficiency.
There is already a clear trend toward more value-added products. In the first six months of 2025, the market share for roasted and flavored cashew nuts increased from 11% to 18%, while certified organic cashews rose from 7% to 9%. OEM and private-label orders remained stable, with a noticeable increase in customized requests. This strategic shift reflects the industry’s efforts to improve product quality, enhance competitiveness, and meet the growing demand in premium market segments.
Vietnam is also focusing on expanding its presence in high-potential markets. In the first half of 2025, cashew exports to the UAE rose by 19% in volume and 47% in value, while exports to the Netherlands grew by 25% in value. These developments demonstrate the country’s efforts to diversify its export destinations and strengthen its foothold in markets that value high-quality, differentiated cashew products.
For a comprehensive analysis with full data tables and insights, refer to the full report: Vietnam Cashew Nuts Import–Export Market Report 2025
